'Rosier outlook' for NSW property economy

THE NSW economy is poised to defy expectations of a national slowdown, according to a new survey of the state's property industry.

The ANZ/Property Council survey gathered data from more than 1950 respondents across Australia, including 600 in NSW.

"The NSW property industry has a decisive and upbeat attitude to expectations about economic growth in the nation's largest state," Property Council of Australia NSW executive director Glenn Byres said.

"There are concerns emerging about the prospects for national economic growth, but the industry believes NSW has a rosier outlook.

"Expectations of positive growth in NSW rose from 120 to 127 in the past quarter - on an index where 100 is neutral - at the same time expectations on national growth slipped to 103."

The state's overall optimism level was determined by merging the results of several different survey questions, including expectations for positive growth, staffing levels, interest rates and property price increases.

Mr Byres said the NSW property industry's overall optimism was rated 147 - the highest in the country for the fourth consecutive quarter - and had sat above the national average for more than two years.

-APN NEWSDESK



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